Udaychandra Devasper Sells 35,776 Shares of Stardust Power (NASDAQ:SDST) Stock

Stardust Power Inc. (NASDAQ:SDST) CFO Udaychandra Devasper sold 35,776 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $2.03, for a total transaction of $72,625.28. Following the completion of the sale, the chief financial officer directly owned 121,611 shares of the company’s stock, valued at $246,870.33. The trade was a 22.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Udaychandra Devasper also recently made the following trade(s):

• On Friday, March 20th, Udaychandra Devasper sold 4,507 shares of Stardust Power stock. The stock was sold at an average price of $2.31, for a total transaction of $10,411.17.

Stardust Power Trading Up 13.2%

SDST opened at $2.65 on Friday. Stardust Power Inc. has a twelve month low of $1.42 and a twelve month high of $7.67. The firm has a market cap of $26.42 million, a price-to-earnings ratio of -1.33 and a beta of 0.56. The company has a fifty day simple moving average of $2.56 and a 200 day simple moving average of $3.25.

Stardust Power (NASDAQ:SDST) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.14).

Wall Street Analyst Weigh In

Several research firms recently issued reports on SDST. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Stardust Power in a research note on Tuesday, April 21st. Wall Street Zen downgraded shares of Stardust Power from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Stardust Power has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. State Street Corp acquired a new position in Stardust Power during the 4th quarter worth $44,000. Geode Capital Management LLC grew its holdings in Stardust Power by 40.3% during the 4th quarter. Geode Capital Management LLC now owns 59,143 shares of the company’s stock worth $181,000 after acquiring an additional 16,989 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new position in Stardust Power during the 4th quarter worth $69,000. 32.79% of the stock is owned by institutional investors and hedge funds.

About Stardust Power

Stardust Power Inc is a vertically-integrated lithium refinery that engages in producing battery-grade lithium. The company was founded in 2022 and is based in Greenwich, Connecticut.